LEASES-THE COMPANY AS LESSOR

12 Months Ended

Dec. 31, 2010

LEASES - THE COMPANY AS LESSOR [Abstract]

9.	LEASES – THE COMPANY AS LESSOR

The Company leases land, buildings, and land improvements under operating leases. The historical cost of, and accumulated depreciation on, leased property at December 31, 2010 and 2009 were as follows (in millions):

	2010			2009

Leased property - real estate	$	820		$	694
Less accumulated depreciation		(103	)		(101	)
Property under operating leases - net	$	717		$	593

Total rental income under these operating leases for each of the three years in the period ended December 31, 2010 was as follows (in millions):

	2010		2009		2008

Minimum rentals	$	70	$	78	$	82
Contingent rentals (based on sales volume)		2		3		4
Total	$	72	$	81	$	86

Future minimum rentals on non-cancelable leases at December 31, 2010 were as follows (in millions):

	Operating Leases

2011	$	66
2012		58
2013		47
2014		37
2015		27
Thereafter		97
Total	$	332

- Definition

The entire disclosure for operating leases of a lessor. This may inlcude a general description of lessor's leasing arrangements for operating leases, including the basis on which contingent rental payments are determined, the existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.

+ References+ Details